FORWARD SOLUTIONS INC. Q3 PROFIT & LOSS

August 04, 2018

FORWARD SOLUTIONS INC. Q3 PROFIT & LOSS

Revenue

Forward Solutions saw a 3.02% increase in revenue during Q3. Revenue totalled $66,820.72 USD of which 98.8% were related to e-commerce store sales.

Costs Of Sales

The product cost for the four e-commerce stores during Q3 totalled $39,118.84 USD which results in a 40.76% profit margin before operating expenses. 

Included in the above figure were $2,662.50 in inventory of our RetroMini product. 

Operating Expenses

Wages & Salaries continue to be the highest expense for us at $21,277.36 USD during Q3. The second biggest expenses to Forward Solutions were once again processing fees.

We have drastically reduced our processing costs by 10.5% and by the end of the third quarter have virtually eliminated the exchange rate loss for Forward Solutions.

Net Income

Forward Solutions saw a $2,915.79 USD loss in Q3 which was the result of ordering inventory for RetroMini.

Overall after Q1, Q2 & Q3 Forward Solutions sat at a $759.23 USD profit going into Q4 which is estimated to be the highest grossing quarter for Forward Solutions.

 

Adam Soliman

CBO | Forward Solutions Inc.